how to cash a check payable to a dissolved corporation

[Naveen Mohan from New York]

I have a client he dissolved his corporation last May. he closed his bank account and filed his final tax return. Yesterday he received a check for $ 1,500.00 as return of unearned premium on his workers compensation policy. The problem is that now he has no bank account to deposit that check into.

 

He cannot deposit it in to his personal bank account because the check is made payable to the corporation and he no longer have a corporation account to deposit the check into and now that the corporation is closed and the final return is filed, I don't think bank will let him open a corporation account to just cash this check.

 

so how do I get around this problem?

 

Thanks for the help

 

Naveen Mohan  

[Lee B]

Three options

 

1.  Endorse the check as the corporation and deposit it in the personal account as a third party check.

 

2. Cash the check at the bank the check is drawn on.

 

3. Contact the insurer, explain the situation and request a check be issued to the individual

[kcjenkins]

I have used the first option with no problem.